Frasers Group plc, the Mike Ashley-founded parent of the UK-based retailer Sports Direct and the Everlast and Slazenger brands, has acquired a 14.65 percent strategic investment in Accent Group Ltd., a retail and distribution business in the performance and lifestyle market in Australia and New Zealand.
In fiscal 2024, Accent delivered A$1.6 billion in sales from nearly 900 stores and websites, including multi-brand sports fashion stores, vertically owned brands and globally exclusively distributed brands, including Skechers, Hoka, Ugg, and Vans.
Frasers has expressed that this strategic investment will not only enhance its presence in Australia and New Zealand but also pave the way for significant growth opportunities. This is a key market in the Group’s ambition to become a leading global sports retailer. To further underpin this partnership and help drive mutual opportunities, Accent has stated that it intends to offer Frasers the opportunity to propose a director to join the Accent Board.
“This investment is an exciting step in expanding our international footprint, which is a key growth driver for the Group,” commented Michael Murray, CEO of Frasers Group. “Accent has built an incredible ecosystem of sports and lifestyle brands in Australia and New Zealand. They have a strong platform across stores, digital and distribution, offering a lot of potential for Frasers’ concepts and brands. We are looking forward to working with the Accent management team to unlock mutually beneficial opportunities for both groups.”
Daniel Agostinelli, CEO of Accent Group said: “We have been in discussions with Frasers Group for some time about a strategic relationship and have been impressed by its management team and believe that there is a strong cultural alignment between both organisations. We see the potential for significant mutual opportunity with Frasers Group, and are excited by the beginning of this new relationship between the organisations.”
Image courtesy Accent Group
